Driven by millennials and Gen Z population, the Indian fast fashion industry is projected to reach a massive $50 billion market by FY31, a report showed on Tuesday. Bengaluru: Driven by millennials and Gen Z population, the Indian fast fashion industry is projected to reach a massive $50 billion market by FY31, a report showed…
H&M plans to offer more discounted fashions in the second half of this year as it tries to win back customers from the likes of Zara owner Inditex and Shein. H&M has over the past year or so said it was prioritising profitability over sales volumes in order to reach a 10% operating margin goal,…
LONDON: Fast fashion retailer Shein, known for its China-made $5 tops and $10 dresses, has hiked prices by over a third on some core products, in a move likely to boost revenues ahead of its planned IPO, according to an analysis of its pricing strategy. Shein’s average price hikes exceeded those of its rivals H&M…
A new U.S. crackdown on customs brokers handling billions of dollars in inexpensive online shopping orders from giants like China-linked Shein and Temu is likely to cause delivery delays and bottlenecks, industry experts said. U.S. Customs and Border Protection announced late last week it suspended “multiple” brokers from an expedited clearance program for those duty-free,…
Zara owner Inditex grew its sales by 7% in the first quarter of its fiscal year, it said on Wednesday, in line with analysts’ expectations. The performance represented a slowdown from a year ago when it benefited from a post-pandemic shopping spree. Inditex, which also owns Pull&Bear, Massimo Dutti and other brands, is attempting to…
Online fashion firm Shein is preparing to file a prospectus with Britain’s Financial Conduct Authority for approval ahead of a potential London float which could value it around 50 billion pounds ($63.70 billion), Sky News reported on Sunday. The confidential filing could take place as soon as the coming week, the report added, citing sources….
Shanghai: With jaw-droppingly low prices and a seemingly endless selection of trendy clothes, Shein has taken the world by storm — and found itself in the crosshairs of French lawmakers who want to curb the excesses of fast fashion. Customers love the Chinese-founded firm’s massive catalogue of ultra-cheap items, from $8 sundresses to 48-cent bracelets,…
German online fashion retailer Zalando on Wednesday forecast a return to growth this year and said it was opening up its logistics business to more players, raising hopes of a boost to its performance and helping to lift its shares. The stock jumped as much as 18.5% after the company also said late Tuesday it…
Investors want Zara owner Inditex to follow rivals H&M and Primark in making its full list of suppliers public so they can better assess any supply chain risks. Inditex is an outlier among big clothing retailers in not publishing which factories it sources from. Regulators and investors want greater transparency and better disclosure from companies….
Spanish fashion retailer Mango reported on Monday record sales of 3.1 billion euros ($3.39 billion) in 2023, beating its forecast after matching domestic rival Zara’s strong expansion in the United States. The Barcelona-based brand said sales jumped 19% last year to exceed its forecast of 3 billion euros through a focus on party wear and…
